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CCRA stated: [I]t seems to us that the arrangement between the employer, the trust and the insurer could resemble a health and welfare trust, provided that the conditions of … IT-85R2 are satisfied, including, among other things, that the employer does not have control over the use of trust funds. ...

X would be allocated his share of the capital gain – but that since the ACB of his partnership interest was increased to FMV under former s. 48(3) on his immigration and further increased by his capital contribution and his share of the capital gain, he would realize a capital loss on the partnership winding-up. ...

In finding that such amount would not be included in determining the corporate beneficiary's safe income or safe income on hand, CCRA indicated “that ‘safe income’ in respect of a share of a corporation means the net income of the corporation, determined in accordance with the Act and adjusted by paragraph 55(5)(b), (c) or (d) … that is attributable to that particular share during the holding period” so that, as the amount distributed to the corporation would not be included in its income by virtue of the operation of s. 104(13.1), such amount could not be included in its safe income. ...

In its recitation of the facts, CRA accepted that by virtue of an election by the Trust pursuant to s. 107(2.001), s. 107(2.1) applied to this distribution, so that Trust realized deemed proceeds of $1,200.000 (resulting in a taxable capital gain of $99,950 being allocated to each Beneficiary under s. 104(21)), each Beneficiary was deemed to have acquired 100 shares at a cost of $200,000, and each Beneficiary disposed of the beneficiary’s capital interest in the Trust for proceeds of $100, which under s. 107(1)(a) had a deemed ACB equal to the cost amount of the distributed shares of $100 – so that no gain was realized on the disposition of each such capital interest. ...

In addition, the amount by which the FMV of the policy included pursuant to s. 15(1) exceeded the cash surrender value was to be included in the ACB calculation – so that the policy’s ACB consequent on the transfer would be equal to the FMV of the policy. ...

CCRA noted that where there was not a new plan, then it would be possible for individuals who eventually receive disability insurance benefits to deduct the contributions made in the years prior to the event – but if there was a new plan, they would only be able to deduct their contributions since the start of the new plan. ...

. … Thus, an RCA trust will be required to include in computing its refundable tax at the end of a taxation year the amount of interest required to be included in computing income from property pursuant to subsections 12(3) and 12(4) and paragraph 12(1)(c) for the year or for a preceding taxation year. ...

. … [T]he Proposal does not prevent Mr. A from selling his shares. Indeed, the Proposal is an agreement independent of the agreement to sell the Corporation’s shares and the sale of the shares must take place in order for the creditor payment clause of the Proposal to apply. ...

Furthermore, we are of the view that the French and English versions of paragraphs 256(3)(a) and 256(6)(a) have the same meaning and that the expression "under which" used in the English version does not allow for a broader interpretation of the verb "stipuler" used in the French version …. ...

. … [T]he fees paid by the corporation for the principal shareholder should be included in the principal shareholder's income pursuant to subsection 15(1). ...